Surat Trade and Mercantile Lim (SURATRAML.BO)

Surat Trade and Mercantile Lim (SURATRAML.BO) — VMCI valuation read

Surat Trade and Mercantile Lim sits at VMCI 54/100, with the Industrials sector median at 50. That 4-point spread is the first thing to note on SURATRAML.BO: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on SURATRAML.BO are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on SURATRAML.BO: SURATRAML.BO trades at 16.0x earnings, 11% below the Industrials median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 8.0% trails the Industrials median (10.0%) by 2.0pp. The Risk read: net debt to EBITDA of 3.3x is the binding constraint on the bear case, anchoring the bear scenario on a measurable balance-sheet metric.

SURATRAML.BO fell 2.4% over the trailing 7 days, with a -9.2% read on a 30-day basis.